Posted!

Join the Conversation

Comments

Welcome to our new and improved comments, which are for subscribers only.
This is a test to see whether we can improve the experience for you.
You do not need a Facebook profile to participate.

You will need to register before adding a comment.
Typed comments will be lost if you are not logged in.

Please be polite.
It's OK to disagree with someone's ideas, but personal attacks, insults, threats, hate speech, advocating violence and other violations can result in a ban.
If you see comments in violation of our community guidelines, please report them.

Real-estate sentiment increases in NY, poll says

More than two-thirds of New York residents believe the real-estate market improved for both buyers and sellers in the last year, according to a Siena College poll.

The survey, released Wednesday, asked respondents for their feelings on both the current and future buying and selling markets in New York and uses a statistical analysis to award a score from -100 to 100. If everyone polled responded positively, the score would be 100, while a -100 would be awarded if all responded negatively.

The state’s overall real-estate sentiment was a 17.7 during the third quarter of 2013, a number that Siena said reflects citizens feel more optimistic about the housing market.

Siena pegged upstate sentiment at 19.4, while New York City’s suburban counties scored a 22.8. Both outpaced New York City’s 13.7.

“Our numbers indicate that real estate is squarely in the ‘thriving zone’ in which citizens see steady growth in real estate values and both buyers and sellers coming out ahead today and tomorrow,” Siena pollster Don Levy said in a statement. “The advantage that buyers held over sellers is now gone. We have reached the point where statewide, New Yorkers see real estate as a win-win.”

This week, the state Association of Realtors released its latest three-month report, which also reflected the market showing signs of returning to normal. Closed and pending housing sales jumped 17.4 percent in July, August and September compared to the same period in 2012.

“However, we do anticipate that the current hectic pace of activity will begin to taper of as fall turns to winter,” Realtors association CEO Duncan Mackenzie said in a statement.

The Siena poll predicts the real-estate market will only continue to stabilize and grow. The sentiment score increased when those polled were asked how they see their feelings changing as the market progresses into the future.

Across the state, the overall future score was 24.8 in the third quarter, down 4.8 points from the previous three months.

“Certainly New Yorkers see a weakening of the buyers’ position to sellers, but for now after four years of hoping to see these positive numbers and widespread optimism about real estate, we are going to trumpet this moment,” Levy said.

Siena polled 2,175 state residents during July, August and September. All were over the age of 18.